Kansas closes legislative session with passage of major housing bills

TOPEKA, Kan. (WIBW) – Kansas has closed the legislative session with the passage of two main housing useful resource payments.

The Kansas Housing Sources Company says Kansas Governor Laura Kelly formally capped off the legislative session with the passage of two main bipartisan housing payments. It mentioned each payments signify a major enlargement of assets to assist statewide housing developments.

KHRC mentioned the measures embrace a mixed $62 million in new housing assets and initiatives to incentivize housing improvement.

“We’ve lengthy recognized that Kansas has a scarcity of high quality, inexpensive housing, however the COVID pandemic turned our state’s housing downside right into a disaster,” mentioned Ryan Vincent, KHRC’s Govt Director. “Our 2021 statewide housing wants evaluation—the primary undertaken in almost 30 years—illustrated the necessity for extra high quality, inexpensive housing in all areas of the state. We’re grateful to state leaders, housing companions, and advocates for prioritizing this historic funding to make that housing a actuality.”

KHRC famous that the measures embrace a set of provisions to increase present housing improvement initiatives and assets.

Home Substitute for Substitute for Senate Invoice 267 was signed in April and designates a further $20 million for the 2022 fiscal yr from the State Common Fund for the Average Earnings Housing program. The funds shall be awarded to cities and counties to develop multi-family rental models and single-family for-purchase properties in communities with lower than 60,000 residents. Beforehand, the MIH program had been funded at a fee of $2 million yearly because it started in 2012.

The invoice additionally designates $20 million from the State Common Fund for the fiscal yr 2023 to the State Housing Belief Fund to ascertain a Rural Housing Improvement Revolving Mortgage Porgram. This system gives loans or grants to rural communities for moderate- and low-income housing development-related infrastructure.

Lastly, SB 267 gives $20 million in ARPA funds for the state’s MIH program to be awarded to cities and counties to develop multi-family rental models and single-family for-purchase properties in communities with lower than 60,000 residents.

Home Invoice 2237 was signed on Might 5 and gives $13 million every year to ascertain a Housing Investor Credit score for certified buyers who make money investments in certified housing developments in counties with between 8,000 to 75,000 residents.

HB 2237 additionally establishes the Kansas Inexpensive Housing Tax Credit score Act – a state tax credit score supplied along with the federal Low Earnings Housing Tax Credit score – to incentivize inexpensive housing improvement.

Lastly, the invoice establishes the Kansas Rural Dwelling Mortgage Assure Act which permits the KHRC to offer mortgage ensures to assist tackle the distinction between the price of building and the appraised worth of single-family properties in counties with lower than 10,000 residents.

The KHRC mentioned it hosted a sequence of regional conferences and webinars in April and Might to assist inform the general public concerning the new assets in addition to get suggestions for proposed plans. It mentioned a further webinar has been set for 11 a.m. to 12:30 p.m. on Thursday, Might 19, the place attendees will study present packages and new initiatives. Individuals should register on-line.

To register for the webinar, click on HERE.

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